FREMONT, Calif. & NEWTOWN SQUARE, Pa.--(BUSINESS WIRE)--Aarvik Therapeutics and ArriVent Biopharma Inc. today announced a strategic research collaboration to develop and commercialize an undisclosed oncology-focused drug candidate.
As part of the collaboration, Aarvik is responsible for the discovery and preclinical development of the novel molecule that is based on its unique modular platform that combines multiple target mechanisms. ArriVent will be responsible for clinical development and commercialization of the collaboration drug candidate that successfully achieves target criteria. For this program, Aarvik will receive an upfront payment and research funding, along with the opportunity for option fees, as well as development and commercial milestones for a potential total value of approximately $100 million, plus royalties.
“Aarvik’s innovative platform enables us to rapidly create a pipeline of differentiated programs across a range of therapeutic targets,” said Jagath Reddy Junutula, Ph.D., Co-founder, President and CEO of Aarvik Therapeutics. “This collaboration with ArriVent leverages their strong global development expertise, enabling us to expeditiously advance a novel cancer therapeutic into the clinic. We are excited to partner with ArriVent’s team, which brings a proven clinical track record in this space. Collaborations such as this one will help Aarvik execute its mission to deliver transformative therapeutics to patients in an accelerated timeframe."
“Our main business focus at ArriVent is to identify and secure strategic partnerships with companies such as Aarvik who share a similar vision of advancing highly innovative molecules for difficult to treat diseases such as cancer,” said Bing Yao, Ph.D., Chairman, Co-founder and CEO of ArriVent Biopharma. “Developed with their proprietary modular antibody technology, we believe the molecule resulting from this research collaboration will demonstrate enhanced efficacy and safety over available therapies. Coupled with ArriVent’s expertise in global drug development, we aim to rapidly advance this highly novel therapy for patients to benefit globally.”
About Aarvik Therapeutics
Aarvik Therapeutics combines a unique, proprietary modular platform with multiple target mechanisms to develop novel molecules with an improved therapeutic index for oncology and other diseases. Backed by Aarvik’s extensive scientific, research, drug development and business expertise from its founders, team members, SAB and Board, Aarvik Therapeutics is applying its vision and passion to create transformational benefit for patients with cancer and other diseases.
About ArriVent Biopharma
ArriVent is dedicated to accelerating the global development of innovative biopharmaceutical products. With a deep, global network of biotechs and big Pharma, ArriVent has access to unique and best-in-class drug candidates at various development stages, including those coming from China and other emerging biotech hubs. Through strategic collaborations with innovative biopharma companies, ArriVent aims to globalize medicines for patients with a broad range of diseases, with an initial focus in oncology.
For additional information, visit www.aarviktx.com and www.arrivent.com.
